Online securities trading has opened up a new era of the securities market. It has won the market and absorbed customers with its time-space, geographical, low-cost and efficient operation characteristics. It is a new model of e-commerce in the network era. The development of online financial business in the United States is in a leading position in the world, and has now carried out banking, stock, insurance and other financial businesses. In 1996, there were about 3.3 million online trading accounts in the United States, and the annual growth rate in the next three years reached 61%. In 1997, the online stock trading volume accounted for 14% of the U.S. stock trading volume, more than twice the previous two years. By 2000, online financial business had accounted for 10% - 20% of the traditional financial business volume. On December 17, 1998, Nasdaq Amex (National Association of Securities Dealers Automated Quotation System and American Stock Exchange) and HKSE (Hong Kong Stock Exchange) released information on the Internet. The two sides jointly established a website for investors, through which investors can buy and sell securities online.
Nasdaq is the first electronic securities market in the world. It is affiliated to the largest self regulatory securities organization - NASD (National Association of Securities Dealers) in the United States. At present, it is the second largest securities market in the world after NYSE (New York Stock Exchange). It has always been in the forefront of reform, and the application of electronic technology has brought the world's chief companies and millions of investors. It is the best organized stock market in the world. It uses advanced industry monitoring systems and experts to protect the interests of investors and provides a fair and competitive trading environment. HKSE (Hong Kong Stock Exchange) is the second largest exchange in Asia. It is the securities trading center in Hong Kong and mainland China, and has a large amount of international capital information.
The new website established by both parties can be accessed through the site connecting the original Nasdaq Amex and HKSE. Through this Website Design Both parties provide various funds for global investors to purchase Nasdaq Amex securities, Hong Kong stocks and other U.S. stocks, mutual funds, options, etc. on the Internet, which can be purchased in both US dollars and Hong Kong dollars. Investors can also download price information, check the stock price individually or 10 times, and find the codes of companies in the United States or Hong Kong. In addition to price information, investors can also obtain basic information about securities listed on the US and Hong Kong Stock Exchanges, including annual dividends, earnings per share, P/E ratio, undistributed profits, and the highest and lowest prices in 52 weeks. Since the first quarter of 1999, historical charts and news of stocks have been added to the website. This online service is in progress β The test solicits investors' opinions. Users can send their own opinions on the service by e-mail through the "Feedback" button on the web page.
This new website is the first example of virtual cooperation in the global securities market, and it has opened a new era of working for the welfare of investors. In addition to the joint website service, the two financial markets announced that they would also establish a working group to develop broader technology sharing and two-way listing of stocks. Senior managers of the two markets, several major market mediators and fund providers in the United States and Hong Kong will be represented in the working group. Frank Saab, the general manager and chairman of NASD, said: "The new website will bring benefits to investors in the Eastern Hemisphere, who can expand their information sources and carry out asset portfolios. The benefits brought by the new cooperation and working group are an important step for us to win the market. These preliminary work is the first step for the wider integration of two important global financial markets." H., Chairman of the Hong Kong Stock Exchange C. Lee said, "Hong Kong Stock Exchange is very happy to have technical cooperation with Nasdaq in serving the world's investors, which is an important step for it to realize its network business focus and customer service upgrading strategy."
